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India's top bank SBI Q4 net profit jumps but outlook clouded after units' merger

Reuters  |  MUMBAI 

By Devidutta TripathyMUMBAI (Reuters) - State Bank of India reported its highest profit in six quarters on lower provisions for bad loans last quarter, but investors were wary about the outlook for its asset quality after the amalgamation of its five subsidiary banks from April.SBI, which accounts for more than a fifth of India's banking assets, merged its five subsidiary banks with itself and also took over a niche lender to women from April 1, in the sector's first consolidation move.The bank on Friday reported standalone net profit, not including contributions from subsidiaries, more than ...

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First Published: Fri, May 19 2017. 20:14 IST